Can I retire at age 47 with 1,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$161,855$160,413$159,007$157,634$156,293$154,021
2 years$80,126$78,634$77,188$75,785$74,425$72,141
3 years$52,887$51,388$49,946$48,556$47,218$44,993
4 years$39,270$37,776$36,348$34,982$33,677$31,527
5 years$31,102$29,617$28,207$26,870$25,600$23,533
6 years$25,658$24,184$22,796$21,488$20,257$18,274
7 years$21,771$20,310$18,943$17,666$16,474$14,577
8 years$18,858$17,409$16,065$14,820$13,667$11,854
9 years$16,593$15,158$13,837$12,623$11,510$9,781
10 years$14,782$13,361$12,064$10,881$9,807$8,161
11 years$13,301$11,894$10,621$9,470$8,434$6,870
12 years$12,068$10,676$9,425$8,307$7,309$5,824
13 years$11,025$9,648$8,421$7,333$6,373$4,966
14 years$10,132$8,770$7,566$6,510$5,587$4,254
15 years$9,359$8,011$6,831$5,806$4,919$3,659
16 years$8,684$7,350$6,194$5,198$4,348$3,158
17 years$8,088$6,769$5,636$4,671$3,855$2,733
18 years$7,559$6,255$5,145$4,209$3,428$2,371
19 years$7,086$5,797$4,710$3,803$3,055$2,061
20 years$6,661$5,387$4,323$3,445$2,729$1,795
21 years$6,278$5,018$3,976$3,126$2,442$1,565
22 years$5,929$4,684$3,664$2,842$2,189$1,367
23 years$5,611$4,381$3,383$2,589$1,965$1,195
24 years$5,320$4,104$3,129$2,361$1,766$1,045
25 years$5,053$3,852$2,898$2,156$1,589$916
26 years$4,807$3,620$2,688$1,972$1,431$803
27 years$4,579$3,407$2,496$1,805$1,291$704
28 years$4,368$3,210$2,320$1,653$1,165$618
29 years$4,172$3,029$2,159$1,516$1,052$542
30 years$3,990$2,860$2,011$1,392$950$476
31 years$3,819$2,704$1,875$1,278$859$419
32 years$3,660$2,558$1,749$1,174$777$368
33 years$3,510$2,423$1,633$1,080$703$323
34 years$3,370$2,296$1,526$994$637$284
35 years$3,237$2,178$1,427$915$577$250
36 years$3,113$2,067$1,335$843$522$220
37 years$2,995$1,963$1,249$776$474$194
38 years$2,884$1,866$1,170$715$429$170
39 years$2,779$1,774$1,096$660$389$150
40 years$2,680$1,688$1,027$608$353$132
41 years$2,585$1,607$963$561$320$116
42 years$2,495$1,530$904$518$291$102
43 years$2,410$1,458$848$478$264$90
44 years$2,329$1,390$796$442$239$79
45 years$2,251$1,325$747$408$217$70
46 years$2,178$1,264$702$377$197$62
47 years$2,107$1,207$660$348$179$54
48 years$2,040$1,152$620$322$163$48
49 years$1,975$1,100$583$297$148$42
50 years$1,914$1,051$548$275$134$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,960,000, adding $6,583 every year, while hoping to spend $37,530 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 67/26/7 Blend
46$1,960,000$1,960,000$1,960,000$1,960,000
47$2,166,710$2,062,830$2,032,450$2,308,856
48$2,347,783$2,123,977$2,060,606$2,465,162
49$2,546,068$2,186,863$2,088,447$2,630,833
50$2,763,280$2,251,532$2,115,923$2,810,944
51$3,001,309$2,318,032$2,142,981$3,006,896
52$3,262,237$2,386,410$2,169,565$3,220,238
53$3,548,355$2,456,714$2,195,616$3,452,668
54$3,862,188$2,528,994$2,221,070$3,706,062
55$4,206,518$2,603,301$2,245,862$3,982,481
56$4,584,406$2,679,687$2,269,922$4,284,195
57$4,999,227$2,758,203$2,293,176$4,613,705
58$5,454,697$2,838,903$2,315,546$4,973,764
59$5,954,909$2,921,843$2,336,950$5,367,403
60$6,504,374$3,007,077$2,357,302$5,797,962
61$7,108,059$3,094,663$2,376,511$6,269,117
62$7,771,438$3,184,658$2,394,480$6,784,919
63$8,500,540$3,277,121$2,411,110$7,349,827
64$9,302,007$3,372,112$2,426,294$7,968,755
65$10,183,157$3,469,692$2,439,921$8,647,116
66$11,152,054$3,569,921$2,451,873$9,390,871
67$12,217,580$3,672,864$2,462,028$10,206,586
68$13,389,522$3,778,584$2,470,255$11,101,496
69$14,678,664$3,887,144$2,476,418$12,083,571
70$16,096,885$3,998,612$2,480,376$13,161,589
71$17,657,277$4,113,053$2,481,978$14,345,225
72$19,374,261$4,230,535$2,481,066$15,645,133
73$21,263,730$4,351,125$2,477,476$17,073,055
74$23,343,193$4,474,894$2,471,035$18,641,924
75$25,631,945$4,601,909$2,461,560$20,365,993
76$28,151,243$4,732,242$2,448,862$22,260,962
77$30,924,512$4,865,965$2,432,741$24,344,133
78$33,977,562$5,003,147$2,412,988$26,634,566
79$37,338,835$5,143,862$2,389,384$29,153,265
80$41,039,667$5,288,182$2,361,700$31,923,371
81$45,114,590$5,436,181$2,329,694$34,970,383
82$49,601,656$5,587,931$2,293,116$38,322,397
83$54,542,791$5,743,506$2,251,702$42,010,371
84$59,984,198$5,902,980$2,205,176$46,068,420
85$65,976,787$6,066,427$2,153,250$50,534,130
86$72,576,657$6,233,920$2,095,622$55,448,922
87$79,845,627$6,405,532$2,031,976$60,858,435
88$87,851,815$6,581,337$1,961,981$66,812,961
89$96,670,285$6,761,408$1,885,293$73,367,917
90$106,383,753$6,945,816$1,801,549$80,584,370
91$117,083,368$7,134,633$1,710,372$88,529,611
92$128,869,570$7,327,928$1,611,368$97,277,791
93$141,853,041$7,525,771$1,504,124$106,910,619
94$156,155,747$7,728,231$1,388,209$117,518,136
95$171,912,091$7,935,372$1,263,171$129,199,562
96$189,270,179$8,147,259$1,128,542$142,064,233
97$208,393,217$8,363,955$983,829$156,232,635
98$229,461,057$8,585,520$828,518$171,837,537
99$252,671,885$8,812,011$662,074$189,025,246
100$278,244,101$9,043,483$483,937$207,956,991